Penumbra, Inc. (PEN) Earns Buy Rating from BMO Capital Markets

BMO Capital Markets reissued their buy rating on shares of Penumbra, Inc. (NYSE:PEN) in a report issued on Friday. They currently have a $96.00 price objective on the stock.

Several other analysts also recently weighed in on PEN. BidaskClub upgraded Penumbra from a hold rating to a buy rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded Penumbra from a sell rating to a hold rating in a research report on Wednesday, October 11th. Finally, Canaccord Genuity restated a buy rating and set a $100.00 price objective (up from $94.00) on shares of Penumbra in a research report on Wednesday, August 9th.

Penumbra (NYSE PEN) opened at 92.10 on Friday. The company has a market capitalization of $3.11 billion, a PE ratio of 622.30 and a beta of 0.09. The company has a 50 day moving average price of $89.31 and a 200-day moving average price of $86.02. Penumbra has a 12-month low of $56.05 and a 12-month high of $94.65.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Penumbra had a negative return on equity of 2.58% and a negative net margin of 2.78%. The business had revenue of $80.60 million during the quarter, compared to the consensus estimate of $77.16 million. During the same period in the prior year, the company earned $0.01 EPS. Penumbra’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts anticipate that Penumbra will post ($0.21) EPS for the current year.

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In other Penumbra news, insider Daniel Donen Davis sold 32,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $79.42, for a total value of $2,541,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Harpreet Grewal sold 500 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $92.90, for a total value of $46,450.00. The disclosure for this sale can be found here. Insiders sold 79,243 shares of company stock valued at $6,712,509 over the last quarter. Corporate insiders own 13.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Penumbra by 10.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,159 shares of the company’s stock valued at $102,000 after purchasing an additional 114 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Penumbra in the first quarter valued at about $194,000. Verition Fund Management LLC bought a new position in Penumbra in the second quarter valued at about $213,000. FNY Partners Fund LP bought a new position in Penumbra in the first quarter valued at about $223,000. Finally, Prudential Financial Inc. bought a new position in Penumbra in the second quarter valued at about $252,000. Hedge funds and other institutional investors own 70.93% of the company’s stock.

Penumbra Company Profile

Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.

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